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- 20 Marks
MA – Aug 2022 – L2 – Q1 – Other aspects of performance measurement
This question asks about the Balanced Scorecard concept, its differences from traditional measures, and benchmarking to improve company performance.
Question
Ancient Ltd is a company engaged in the assembling and selling of computers, mobile phones, and their accessories. This company has been the market leader for the last 5 years in this field but is now incurring losses due to decreasing demand and escalating production costs. Currently, the company evaluates its performance using financial measures. The managing director of Ancient Ltd has learned at a recently attended workshop that the concepts of Balanced Scorecard and Benchmarking could be used to improve the performance of organizations. It was also noted that the Balanced Scorecard should be considered at the strategic planning stage in order to set smart objectives.
Required:
a) Explain the concept of the Balanced Scorecard approach to performance measurement.
(2 marks)
b) State TWO (2) differences between the Balanced Scorecard and Traditional Performance measures.
(3 marks)
c) Explain the role of each perspective of the Balanced Scorecard approach at the strategic planning stage. (You are required to give an example of performance measures for each perspective.)
(8 marks)
d) How can the concept of benchmarking be used to improve the performance of Ancient Ltd.?
(3 marks)
e) Explain with an example, how benchmarking could be used to improve performance measures in relation to the customer perspective of Ancient Ltd’s Balanced Scorecard.
(4 marks)
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- 14 Marks
CSEG – May 2016 – L2 – Q2a – Strategy evaluation and control
Describe the four perspectives of a balanced scorecard and explain three problems associated with its use in strategic management.
Question
The Balanced Scorecard approach has been embraced as an effective model for generating information to assist management in formulating and achieving strategic policies. It emphasizes the need to provide management of an organisation with a set of information which addresses all relevant areas of performance in an objective and unbiased fashion.
You are the Management Accountant of McGinate Incorporated, a local printing and publishing house located in the regional capital of Ashanti. Your CEO has asked you to brief him further on the balanced scorecard approach.
Required: In a memo to the CEO: i) Describe FOUR perspectives of a balanced scorecard. (8 marks) ii) Explain THREE problems usually associated with the use of this approach for strategic management. (6 marks)
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- 20 Marks
MA – Aug 2022 – L2 – Q1 – Other aspects of performance measurement
This question asks about the Balanced Scorecard concept, its differences from traditional measures, and benchmarking to improve company performance.
Question
Ancient Ltd is a company engaged in the assembling and selling of computers, mobile phones, and their accessories. This company has been the market leader for the last 5 years in this field but is now incurring losses due to decreasing demand and escalating production costs. Currently, the company evaluates its performance using financial measures. The managing director of Ancient Ltd has learned at a recently attended workshop that the concepts of Balanced Scorecard and Benchmarking could be used to improve the performance of organizations. It was also noted that the Balanced Scorecard should be considered at the strategic planning stage in order to set smart objectives.
Required:
a) Explain the concept of the Balanced Scorecard approach to performance measurement.
(2 marks)
b) State TWO (2) differences between the Balanced Scorecard and Traditional Performance measures.
(3 marks)
c) Explain the role of each perspective of the Balanced Scorecard approach at the strategic planning stage. (You are required to give an example of performance measures for each perspective.)
(8 marks)
d) How can the concept of benchmarking be used to improve the performance of Ancient Ltd.?
(3 marks)
e) Explain with an example, how benchmarking could be used to improve performance measures in relation to the customer perspective of Ancient Ltd’s Balanced Scorecard.
(4 marks)
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Report an error
- 14 Marks
CSEG – May 2016 – L2 – Q2a – Strategy evaluation and control
Describe the four perspectives of a balanced scorecard and explain three problems associated with its use in strategic management.
Question
The Balanced Scorecard approach has been embraced as an effective model for generating information to assist management in formulating and achieving strategic policies. It emphasizes the need to provide management of an organisation with a set of information which addresses all relevant areas of performance in an objective and unbiased fashion.
You are the Management Accountant of McGinate Incorporated, a local printing and publishing house located in the regional capital of Ashanti. Your CEO has asked you to brief him further on the balanced scorecard approach.
Required: In a memo to the CEO: i) Describe FOUR perspectives of a balanced scorecard. (8 marks) ii) Explain THREE problems usually associated with the use of this approach for strategic management. (6 marks)
Find Related Questions by Tags, levels, etc.
Report an error